Risk Management Assessment 2022

Running head: RISK MANAGEMENT
Risk Management
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Name of the University:
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RISK ASSESSMENT
Table of Contents
Introduction:....................................................................................................................................2
Risk Assessment:.............................................................................................................................2
Risk Register:...............................................................................................................................2
Risk Matrix:.................................................................................................................................4
Explanation:.................................................................................................................................5
Conclusion:......................................................................................................................................5
References:......................................................................................................................................6
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RISK ASSESSMENT
Introduction:
The Regional Garden Ltd is a gardening company taking care of several other gardening
enterprises. It also consists of a data centers which has several important data regarding the
consumers and the employees of the organization [1]. The company has currently appointed
Chief Information Officer to conduct the risk management assessment on the company’s data
center. The following report discusses about the risks that are associated with the data center of
the organization along with the impact and the mitigation techniques.
Risk Assessment:
The risk assessment is one of the most important step for an organization. This helps it to
develop an insight regarding the prevailing issues of the organization. The following risk register
shows the risks in the organization as determined by the CIO along with all necessary
information regarding that risk.
Risk Register:
Risk
Id.
Risk name Risk Description Likeli
hood
Impact Control strategy Residual risk Priorit
y
1 Data loss As the organization
has very less security
towards the data
protection. Only one
password is used for
all the purpose of the
data access. The data
is easily accessible to
the employee and the
data is prone to get
lost if not protected
with proper
passwords and other
modes of security [2].
High High Proper
protection with
stronger
password which
is accessible
only by the
admin or the
authorized
entities of the
organizations.
 The
password
s can be
hacked
and data
can still
be lost.
 Misuse
of power
by the
people
authorise
d for
accessing
the
system.
High
priori
ty
risk
and
needs
imme
diate
attent
ion.
2 Unauthorized
access
Similarly, as the
password is available
for all, the system is
easily accessible by
High High Strong
password
protection and
enabling
The risk of
the system
hacking
remains.
High
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